The new WanBridge Web has landed!

Published in

Wanchain

4 min readAug 31, 2021

The highly anticipated upgrade to WanBridge Web has arrived! This new release introduces a new simple, intuitive UI design and streamlined operations. Additionally, multiple new public chain integrations are lined up to join Wanchain’s industry-leading decentralised crosschain infrastructure that already includes Bitcoin, Ethereum, Wanchain, EOSIO, Binance Smart Chain, Litecoin, XRP Ledger and, most recently, Moonriver.

The new WanBridge Web is also the first with planned mobile support. The mobile-optimised interface will be released soon!

The new WanBridge Web can be accessed here.

What is WanBridge Web?

With the rapid rise of blockchain technology, there are now thousands of public and private blockchains deployed around the globe. However, these blockchains exist largely in isolation — unable to communicate or exchange information with one another. Wanchain is building decentralised bridges connecting these siloed blockchain networks to help blockchain reach its world-shaping potential. WanBridge Web is a browser-based interface that makes simple decentralised crosschain transactions available to all users.

How do Wanchain’s crosschain bridges work?

Wanchain’s crosschain bridges are maintained by a group of 25 anonymous nodes called the Storeman Group. The Storeman Group is responsible for performing and verifying crosschain transactions.

When a user initiates a crosschain transaction, the Storeman Group locks the user’s original asset on their original chain and mints a new asset, pegged 1:1 to the original asset, on the destination chain. For example, when a user initiates a BTC crosschain transaction from Bitcoin to Moonriver, the Storeman Group locks the BTC on the Bitcoin network before minting the same number crosschain-compatible BTC (aka wanBTC) on Moonriver. This is all done using a unique secure multiparty computing mechanism to keep the process entirely non-custodial while ensuring the absolute the safety of the user’s assets. A more technical description of this process can be found in this writeup.

Wanchain’s decentralised crosschain bridges are all supported by unified decentralised collateral pools, meaning Storeman nodes must stake WAN tokens as collateral. Storeman nodes are permissionless and the Storeman Group is re-elected on a monthly cycle. More details on how to become a Storeman node can be found in the setup guide.

WanBridge Web unique features

WanBridge Web provides 100% non-custodial, decentralised and secure crosschain transactions thanks to Wanchain’s unique secure multiparty computing mechanism.
WanBridge Web uses Wanchain’s direct bridges to enable assets to move from one chain to another without passing through any other intermediary networks. For example, Bitcoin can move directly from Bitcoin to Ethereum.
WanBridge Web leverages Wanchains decentralised crosschain infrastructure to support transactions between completely heterogeneous networks. In other words, unlike most other crosschain solutions, WanBridge Web supports transactions between both EVM-compatible blockchains and non-EVM blockchains.
WanBridge Web’s crosschain transaction are fully decentralised and permissionless. Anyone can become a Storeman node and the Storeman Group is re-elected every single month.

How to complete a crosschain transaction using the new WanBridge Web

1 — Connect Metamask

2 — Select an asset, the origin chain, and the target chain

3 — Enter the recipient address and an amount to send

4 — Double check the details then click confirm

5 — After the transaction is confirmed, the crosschain-compatible assets will appear in the listed recipient address. The processing time depends entirely on the speed of the origin and target chains.

About Wanchain

True DeFi is interoperable — Wanchain, the Wide Area Network chain, is the world’s premier decentralised blockchain interoperability solution. Our mission is to drive blockchain adoption through interoperability by building fully decentralised bridges that connect the world’s many siloed blockchain networks. This crosschain infrastructure empowers developers to build truly decentralised crosschain applications to power the future of DeFi.